Wayne County Commission approves $25.9 million surplus transfer to general fund
Summary
The Wayne County Commission voted to transfer $25,907,485 from the treasurer’s surplus to the county general fund after the treasurer’s annual surplus declaration. The motion was moved and supported and passed during the meeting; it was the only formal action taken that day.
The Wayne County Commission approved a resolution to transfer $25,907,485 from the treasurer’s surplus to the county general fund. The motion was made, supported and approved during the meeting.
Jeanviere Adams, chief deputy treasurer in the Wayne County Treasurer’s Office, described the action as the annual surplus declaration process, saying, "The surplus declaration is declared after the end of the prior fiscal year after September 30th, and it is for the current fiscal year. The treasurer does an analysis of the funds in the DTRF and, at the end of the fiscal year, he declares the surplus, which is then transferred over to the general fund."
Commissioners asked no substantive follow-up questions. A motion to approve the transfer was made by Commissioner Morecki and, after vocal assent from commissioners present, the resolution was approved. Staff noted this was the only action item on the agenda; other items on the docket were discussed but not voted on. The meeting proceeded to other agenda items and then adjourned.
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